Which came closer to its stated multiple, BEX or BEZ?

Over the window to Sep 30, 2026, BEX finished 24.7 points from what its multiple implies and BEZ finished 67.6 points from its own, so BEX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.

Are BEX and BEZ levered on the same thing?

Yes. Both are levered on Bloom Energy, BEX at +2 times and BEZ at -2 times the daily move.

Which one decays faster, BEX or BEZ?

Decay follows how much the underlying moves about. Over this window BEX’s moved at 110% annualized and BEZ’s at 110%, so BEX has the rougher ride and, at the same multiple, loses more to compounding.

Can I hold BEX or BEZ for a year?

Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.

Which is cheaper, BEX or BEZ?

BEX charges 1.30% a year and BEZ charges 1.49%, so BEX is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

BEX vs BEZ: which held to its multiple?

Over three months against its own daily promise, BEX finished 2.1 points short and BEZ 0.2 points over. Tradr 2X Long BE Daily ETF and Tradr 2X Short BE Daily ETF.

−33.4%

BEX returned, 3 months

−59.0%

BEZ returned, 3 months

−24.7 pts

BEX from its stated multiple

−67.6 pts

BEZ from its stated multiple

BEX · 3 months to Sep 30, 202624.7 pts short of its stated multiple

BEX returned −33.4% while 2 times BE's move would have been −8.6%

BEZ · 3 months to Sep 30, 202667.6 pts short of its stated multiple

BEZ returned −59.0% while −2 times BE's move would have been +8.6%

ETFIQ Decay Resistance Score · BEX scores higherDid it keep up with its own daily multiple, compounded day by day?

BEX among the 470 leveraged ETFs, long, over three months

BEX 66.5

0.1, the lowest in this set99.9, the highest

BEZ among the 125 inverse ETFs over three months

BEZ 19.6

0.4, the lowest in this set99.6, the highest

A percentile among the 470 leveraged ETFs, long, over three months. BEZ is a percentile among the 125 inverse ETFs over three months, a different set, so the two marks are not on one scale. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it → How it is computed →

Performance, window by window

	Total return		Multiple would give		Difference
Window	BEX	BEZ	BEX	BEZ	BEX	BEZ
1 month	+67.8%	−55.4%	+68.5%	−68.5%	−0.7 pts	+13.2 pts
3 months	−33.4%	−59.0%	−8.6%	+8.6%	−24.7 pts	−67.6 pts
6 months	not published	−97.3%	not published	not meaningful	not published	not meaningful
Since launch BEX May 2026 · BEZ Feb 2026	−48.0%	−97.8%	−16.8%	−156.2%	−31.2 pts	+58.4 pts

BEX and BEZ over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BEX

Tradr 2X Long BE Daily ETF · Aims to return twice the daily move of Bloom Energy (BE)

BEZ

Tradr 2X Short BE Daily ETF · Aims to return twice the opposite of the daily move of Bloom Energy (BE)

Issuer Tradr Tradr

Sets out to return +2x -2x

Underlying asset BE BE

Segment company company

Fund returned, 3 months or since launch −33.4% −59.0%

Underlying returned, over that window −4.3% −4.3%

What the stated multiple implies, over that window −8.6% +8.6%

Difference from stated, over that window −24.7 pts −67.6 pts

Fund returned, 1 year or since launch −48.0% −97.8%

Difference from stated, over that window −31.2 pts +58.4 pts

Underlying volatility 110% 110%

Difference over the days both have traded −24.7 pts no shared window

Expense ratio 1.30% 1.49%

Launched May 26, 2026 Feb 11, 2026

Net assets $208m $24m

BEX and BEZ on the same fields, as of Sep 30, 2026. Source: ETFIQ.

BEX in plain words

Three months to Sep 30, 2026: BEX returned −33.4% where its own daily promise gave −31.3%, 2.1 points short. Read the multiple against the whole window instead and 2 times BE's −4.3% implies −8.6%, which makes BEX look 24.7 points short. 22.6 of that is daily compounding, which happens to any 2 times fund over the same path, and the rest is the fund. BEX aims to return +2 times BE's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. BE moved at 110% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.

BEZ in plain words

Three months to Sep 30, 2026: BEZ returned −59.0% where its own daily promise gave −59.2%, 0.2 points over. Read the multiple against the whole window instead and −2 times BE's −4.3% implies +8.6%, which makes BEZ look 67.6 points short. 67.8 of that is daily compounding, which happens to any −2 times fund over the same path, and the rest is the fund. BEZ aims to return -2 times BE's move each day, then resets. Over longer, the daily results compound, so the total is not -2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more.

Questions people ask

Which came closer to its stated multiple, BEX or BEZ?: Over the window to Sep 30, 2026, BEX finished 24.7 points from what its multiple implies and BEZ finished 67.6 points from its own, so BEX came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
Are BEX and BEZ levered on the same thing?: Yes. Both are levered on Bloom Energy, BEX at +2 times and BEZ at -2 times the daily move.
Which one decays faster, BEX or BEZ?: Decay follows how much the underlying moves about. Over this window BEX’s moved at 110% annualized and BEZ’s at 110%, so BEX has the rougher ride and, at the same multiple, loses more to compounding.
Can I hold BEX or BEZ for a year?: Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
Which is cheaper, BEX or BEZ?: BEX charges 1.30% a year and BEZ charges 1.49%, so BEX is cheaper. Fees come from each fund's prospectus.

Other comparisons

BEX vs BEC BEX vs BEG BEZ vs BEC BEZ vs BEG

BEX on its own →BEZ on its own →How every figure is computed →Standards and sources →

Where these figures came from

BEX and BEZ filings on SEC EDGAR ↗BEX prospectus with the expense ratio (SEC) ↗Tradr website ↗BEZ prospectus with the expense ratio (SEC) ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BEX against BEZ, data as of Sep 30, 2026. https://etfiq.com/compare/leverage/bex-vs-bez

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.